“BBG3 demonstrates our continued commitment to executing a predictable offshore leasing schedule for the Gulf of America,” said BOEM Acting Director Matt Giacona. “This third Congressionally directed sale builds on the momentum of the first two sales and supports responsible development of America’s offshore energy resources, continued investment in the US Outer Continental Shelf, and American energy independence.”
The Final Notice of Sale is scheduled to publish in the Federal Register on July 8, initiating a 30-day waiting period before the lease sale. The bureau will livestream the public bid reading on August 12 at 9 a.m. Central Time. The bid opening will be livestreamed at www.boem.gov/Sale-BBG3.
The bid reading venue will be closed to the public, but registered bidders may attend in person, per BOEM instructions.
Lease Sale BBG3 plans to offer approximately 15,100 unleased blocks, covering roughly 80.4 million acres on the US Outer Continental Shelf in the Gulf of America. The blocks are located between three miles and 231 miles offshore and include water depths ranging from nine feet to more than 11,100 feet.
More information, including the Final Notice of Sale package and a detailed map of the proposed lease sale area, is available on BOEM’s website: www.boem.gov/Sale-BBG3.
The lease sale is in direct support of Executive Order 14154, “Unleashing American Energy,” which directs federal agencies to accelerate offshore oil and gas development to lower energy costs, reinforce national energy security, and strengthen America’s global competitiveness.
The Gulf of America Outer Continental Shelf spans approximately 160 million acres and is estimated to contain 26.90 billion barrels of undiscovered, technically recoverable oil and 45.59 trillion cubic feet of natural gas.
Certain areas will be excluded from the sale, including blocks subject to the September 8, 2020, presidential withdrawal; blocks adjacent to or beyond the US Exclusive Economic Zone in the Eastern Gap; blocks within the boundaries of the Flower Garden Banks National Marine Sanctuary; and any block currently under appeal.
Economic & Strategic Benefits
Offshore oil and gas leasing on the Outer Continental Shelf generates billions in revenue through lease sales, rental fees, and royalties. These funds are distributed to the US Treasury and to states via revenue-sharing programs that support coastal restoration, hurricane protection, and other public services and conservation efforts.
The General Fund of the US Treasury receives the largest portion of offshore revenues, helping to finance the daily operations of the federal government. In addition, these key revenues generated by Outer Continental Shelf development create high-quality jobs, fund infrastructure and education, and contribute to local economies.
American Energy Dominance is a cornerstone of US economic strength, national security, and global stability. President Trump’s dedication to expanding domestic offshore energy capabilities ensures affordable energy for US consumers, further strengthens the United States’ position in the global energy market, and reduces America’s reliance on foreign sources.
